Primary Location:
Comerica Great Lakes Campus
Locations:
Farmington Hills, MI US
Additional Locations:
Comerica Great Lakes Campus
Job Type:
Full-time
WorkBest Job Category:
Category C – Days in the office will either be designated days or will vary week to week from 2-5 days
Job Category:
Credit
Required Experience:
3-7 years
Overtime Status:
Exempt
Job ID:
246650
Business Risk and Control Officer – Control Testing Sr. Analyst
- Provide leadership and coaching to the 1LOD to proactively identify and effectively manage risks.
- Translate and educate 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies, and inventories.
- Review, validate, and test 1LOD activities to ensure adequate control design and effective control operation.
- Provide credible challenge to 1LOD colleagues, ensuring safeguard and risk mitigation measures are upheld in decision making and adherence to 2LOD frameworks and policies prior to 2LOD review.
- Drive two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle.
- Collaborate and coordinate across the organization to help navigate and mitigate horizontal risk promoting resilience and ensuring safety and soundness.
- Document, aggregate and report risk in accordance with the risk management lifecycle.
- Adheres to a defined testing schedule and provides periodic updates on progress.
- Establishes relationships with business partners and other key stakeholders (i.e. SOX Office).
- Understands LOB end to end business processes, products, services, financial statement risks, controls, and risk profile.
- Adheres to testing procedures, standards, and methodologies established by 2LOD. Tests are performed periodically based on inherent risk level and frequency of controls operation; scope and sample size vary based on the type of test, inherent risk level, and dataset population size.
- Addresses any review and challenge comments as received to ensure alignment with 2LOD testing requirements.
- Designs and executes testing plans and scripts to evaluate the effectiveness of the overall control environment, including for SOX compliance.
- Assesses both Design (is the control is designed to accomplish the goal or detect/prevent a misstatement – test sample of 1) and Effectiveness (was the control executed correctly).
- Performs the role of Tester/Preparer (does the testing, picks the samples, executes testing based on test plan, documents, manages follow-up, reviews comments) or Reviewer (reviews the testing, documents issues).
- Reviews 1LOD quality assurance procedures are aligned with frameworks and policies.
- Documents narratives, flowcharts and controls.
- Identifies and escalates issues for remediation. Advises on how to remediate any control deficiencies/failures; proposing solutions to root causes of identified conditions.
- Validates remediation of control deficiencies and issues, including sustainability.
- Supports audits, exams and assessments conducted internally and externally.
- Partners and engages with relevant business partners at varying levels in the organization to develop and maintain a strong control environment through effective testing and related activities that lead to early identification and sustainable mitigation of risks.
- Drives a strong enterprise risk culture by fostering rigor and discipline focused on risk and compliance awareness, ethical business practices, transparency, and escalation.
- Learns continuously about the line of business to strengthen subject matter expertise and provide more valuable application of control testing.
- Demonstrated knowledge of banking industry products, services, and workflows.
- Familiarity with critical business processes and controls, as well as overall business needs and objectives, for the Line of Business.
- Track record of driving timely and effective issue resolution in a financial services context.
- Ability to educate colleagues on risk management, controls, and compliance concepts, frameworks, and policies.
- Ability to build relationships and engage constructively in a proactive and transparent approach with cross-functional stakeholders, to challenge status quo and drive buy-in to achieve common goals.
- Ability to clearly and effectively communicate, including ability to summarize and explain findings and issues to a wide range of audiences.Ability to apply sound judgment and appropriately escalate concerns and issues.
- Ability to demonstrate managerial courage and inspire colleagues across the organization to embrace change.
- Ability to gather, analyze and interpret large datasets from various sources.
- Strong analytical and critical thinking skills with high attention to detail and accuracy.
- Ability to manage multiple tasks and projects, prioritize work, meet deadlines, achieve goals.
- Self-starter, able to work fairly independently under the guidance of management, flexible and can navigate through an organization.
- Bachelor’s degree from an accredited university or a High School Diploma or GED and 6 years of Risk Management or other related experience in the Financial Services Industry
- 4 years of experience in Risk Management, Compliance, Audit, or related field
Experience in executing and reporting on testing reviews and/or regulatory issue validation activities - Knowledge and experience with testing/auditing principles, particularly in the understanding of risk and controls, execution of testing strategy and approach, perform data testing
- Understanding of rules, laws, regulatory requirements and ability to develop/execute tests to assess for compliance with requirements
- Proficient in risk management software, MS Office Suite, and other related technology tools
- Strongly Preferred: 2years of experience in Financial Services industry and/or knowledge of Business Line products, services, and business processes
Comerica Great Lakes Campus8:00am – 5:00pm Monday – Friday, this position includes both onsite and remote work.